SHIFFMAN GARY A 4

What Happened Gary A. Shiffman, a director of Sun Communities, Inc. (SUI), received a grant/award of 1,617 restricted shares on February 5, 2026 at a reported value of $123.68 per share, for a total value of $199,991. This was an equity award (code A), not an open-market purchase or sale.

Key Details

• Transaction date: 2026-02-05. Transaction type/code: Award/Acquisition (A).
• Amount: 1,617 shares at $123.68 per share; total reported value $199,991.
• Vesting: These are restricted shares that vest in full on February 5, 2029, provided he remains a director (Footnote F1).
• Trust ownership note: Some shares are held by an irrevocable trust of which Mr. Shiffman is trustee and beneficiary; he disclaims beneficial ownership except for his pecuniary interest (Footnote F2).
• Shares owned after the transaction: Not specified in the Form 4 filing.

Context Restricted stock awards to directors are common as part of compensation and typically vest over time; they are not immediate market purchases and do not indicate an immediate buy or sell action. This filing documents the grant and the vesting terms; it is factual disclosure of compensation rather than an expression of market sentiment.